Flight Centre Travel Group Limited · ASX:FLT
Flight Centre Travel — H1 FY2026 Earnings Presentation
46 slides from Flight Centre Travel's earnings presentation, Feb 25, 2026
Slide 1: FY26 Half-year Results Presentation
FY26 Half-year Results Presentation February 25, 2026 FLIGHT CENTRE TRAVEL GROUP
Slide 2: Agenda
Agenda 01 02 03 04 Introduction & Financial Corporate & FY26 summary of results & key Leisure outlook results drivers Chris Galanty CEO – Corporate Graham Turner Adam Campbell Adam Campbell James Kavanagh Global Managing CFO CFO CEO – Leisure Director and CEO FLIGHT CENTRE TRAVEL GROUP FLIGHT CENTRE
Slide 3: Introduction & Summary of Results
01 Introduction & Summary of Results Adam Campbell CFO FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 3
Slide 4: Key elements of our enduring competitive advantage
01 Introduction & Summary of Results Key elements of our enduring competitive advantage 1 3 5 Leading Brands Diversified leisure Efficiency and Resilient demand and record Strong specialty Productivity TTV demonstrate growth, scaling digital channels. Costs well below pre-pandemic the enduring stren
Slide 5: Half-year Highlights
01 Introduction & Summary of Results Half-year Highlights TTV Revenue up 7% to up 6% to $12.5b $1.4b Positive results achieved in a challenging global trading cycle • 1H TTV has now exceeded the • Record low cost margins prior year result 28 times in the • Sustained momentum on the UPBT UEBITDA past
Slide 6: Financial Results & Key Drivers
02 Financial Results & Key Drivers Adam Campbell CFO FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 6
Slide 7: 1H Results: Detailed financial summary
02 Financial Results & Key Drivers 1H Results: Detailed financial summary Strong start to FY26 – headlined by record 1H TTV and profit above expectations GROUP CORPORATE LEISURE HQ1 AU $m HY26 HY25 Change HY26 HY25 Change HY26 HY25 Change HY26 HY25 Change TTV 12,543 11,692 +7.3% 6,342 5,981 +6.0% 5,
Slide 8: Divisional highlights
02 Financial Results & Key Drivers Divisional highlights Corporate Leisure HQ • Record 1H TTV and accelerated profit growth • Strong TTV growth (+10%) & profit in line • Formerly known as “Other” segment with expectations • HQ includes unallocated expenses, results • Business now c. 50% larger than
Slide 9: FLT's ongoing evolution
02 Financial Results & Key Drivers FLT’s ongoing evolution Adapting to changing market dynamics, customer preferences Corporate has become FLT’s Leisure business diversification largest segment by TTV Corporate contribution to group TTV (%) FCB was 34% Online was 6% 100% 2020 2020 of group TTV of FC
Slide 10: FLT's core assets
02 Financial Results & Key Drivers FLT’s core assets Customer loyalty Brand equity Differentiated travel and technology and proprietary data and trust product ranges Human expertise - ability to navigate Supplier relationships through complexity FLIGHT CENTRE TRAVEL GROUP FLIGHT CENTRE TRAVEL GROUP
Slide 11: AI innovation
02 Financial Results & Key Drivers AI innovation Utilising AI to increase consultant efficiency, reduce cost-to-serve and deliver more personalised, consistent CX Mel Sam Co-Consult Email triaging Partnering with leading AI innovators: FLIGHT CENTRE TRAVEL GROUP FLIGHT CENTRE TRAVEL GROUP 2026 HALF-
Slide 12: Capital management
02 Financial Results & Key Drivers Capital management FLT continues to draw on its healthy balance sheet to maximise shareholder value Continuing on-market share Issued a new, longer-dated 12 cents per share fully buyback of up to $200m $450m Convertible Note franked interim dividend Enables the ful
Slide 13: Ongoing Portfolio Simplification and Strategic Reallocation
02 Financial Results & Key Drivers Ongoing Portfolio Simplification and Strategic Reallocation Proactively reshaping our brand portfolio and operating models to capture emerging opportunities, leverage new technology and create longer-term shareholder value Closure of Divestiture of non-core Organic
Slide 14: Divisional Updates
03 Divisional Updates FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 14
Slide 15: Corporate
3.1 Corporate Chris Galanty CEO - Corporate FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 15
Slide 16: Corporate: Business Overview
03 Divisional Updates Corporate: Business Overview Unique Dual Brand Strategy A People-Led Broadening Driving Organic Growth Digital Business Revenue Mix • Two world class brands • Building a technology-enabled, • Expansion into higher-margin, (Corporate Traveller and FCM) AI-driven operating model,
Slide 17: One experience, Multiple revenue streams
03 Divisional Updates One experience, Multiple revenue streams Travel Meetings Management & Events Professional services FLIGHT CENTRE TRAVEL GROUP FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 17
Slide 18: 1H Result Overview Sales & Profit
03 Divisional Updates 1H Result Overview Sales & Profit 6% TTV growth to $6.3b 20% UPBT growth to $115m • Record TTV – now tracking at 150% of FY19 1H levels (pre-COVID) TTV $bn UPBT $m • Solid pipeline of new accounts secured across FCM & 6.4 120 Corporate Traveller brands to fuel future growth • C
Slide 19: Productive Operations initiative benefits
03 Divisional Updates FLT’s Productive Operations initiative is generating meaningful financial and operational benefits People • Scale efficiencies contributed to a 20% increase in 1H underlying profit, far exceeding 6% TTV growth • Learning one system • Further benefits expected as initiatives are
Slide 20: Strong returns on investment in Productive Operations initiative
03 Divisional Updates Strong returns on investment in Productive Operations initiative Productivity growth tracker chart 7000 1300 Two-Year Comparison 6000 1250 • 9% average FTE reduction 5619 5462 1200 • 8% TTV growth 5000 FTE FTE 5129 TTV $/ • 18% productivity increase 1150 TTV $ 4000 FTE Avg FTE
Slide 21: Key growth drivers
03 Divisional Updates Key growth drivers AI transformation – foundational technology, embedded in all platforms Global Booking Platforms Organic growth – FCM and Corporate Traveller Accelerating new growth models – M&E, Stage & Screen, payments and expense Brilliant basics – Productive Operations, o
Slide 22: Leisure
3.2 Leisure James Kavanagh CEO - Leisure FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 22
Slide 23: Leisure: Business Overview
03 Divisional Leisure Updates Leisure: Business Overview FLT’s leisure division has evolved beyond its traditional NPS Scores Transformed, shop-based model into a diversified, digitally enabled diversified business built around four categories – mass-market, luxury, business model IHY26 IHY25 specia
Slide 24: 1H Result Overview Sales & Profit
03 Divisional Updates 1H Result Overview Sales & Profit 10% TTV growth to $6b • Solid YoY TTV growth – targeting record 2H with inclusion of Iglu and given current growth trajectory TTV $bn • 1H profit in line with expectations but down slightly year-on-year 6.5 +10% • Positive momentum – record UPB
Slide 25: Specialist Leisure TTV
03 Divisional Updates Specialist Leisure TTV Specialist Leisure TTV $bn TTV by Specialist Brands $m 1.6 900 +58% 800 1.4 700 +92% 1.2 600 1.0 500 0.8 400 +48% +47% 0.6 300 200 0.4 100 0.2 - - Ignite Jetmax Travel Money 2024 2025 2026 2024 2025 2026 FLIGHT CENTRE TRAVEL GROUP FLIGHT CENTRE TRAVEL GRO
Slide 26: Cruising into a new growth era
03 Divisional Updates Cruising into a new growth era Rapid growth means cruise-only TTV is now set to approach the $2b annualised milestone this year 2.2 2.0 +100% 1.8 1.6 1.4 Billions 1.2 +61% 1.0 0.8 +29% 0.6 0.4 0.2 0.0 FY23 FY24 FY25 FY26 (expected) FLIGHT CENTRE TRAVEL GROUP FLIGHT CENTRE TRAVE
Slide 27: Continued progress across strategic priorities
03 Divisional Updates Continued progress across strategic priorities Vision (Where we’re going) Become the most valuable and diverse leisure travel company in our core markets, helping millions create memorable experiences. BIG MOVES How we’ll win 01. GROW 02. BET ON 03. LAUNCH & THE CORE WINNERS LI
Slide 28: Leveraging new technologies to deepen customer insight and drive incremental revenue
03 Divisional Updates Leveraging new technologies to deepen customer insight and drive incremental revenue Positioning Leisure as a data and AI powered business through personalisation One unified customer view across four brands and all channels Our customers tell us more – from budgets to wish-lis
Slide 29: Key growth drivers
03 Divisional Updates Key growth drivers PEOPLE + AI: THE FUTURE TRAVEL ADVANTAGE Growing our team while deploying Agentic AI - powered by FLT’s Travel Brain* and the trust of Australia's leading travel brands PRODUCT: CREATE DESIRABLE & UNIQUE Boost margins with exclusive, desirable and high conver
Slide 30: FY26 Outlook
04 FY26 Outlook Graham Turner Global Managing Director and CEO FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 30
Slide 31: Group Outlook
04 FY26 Outlook Group Outlook Solid start with reaffirmed guidance providing confidence in FY26 delivery FY26 Guidance Early 2H Momentum • FY26 UPBT reaffirmed at $315m–$350m, • Strong start to peak 2H trading period – midpoint $332.5m (15% YoY growth) record leisure profit and TTV in January • Midp
Slide 32: Underlying travel market demand remains sound
04 FY26 Outlook Underlying travel market demand remains sound Global passenger traffic 7.3% growth in APAC 84% of corporate buyers expected to grow by 4.9% region expected expect travel spend to hold YoY for 2026 or increase Source: IATA Global Outlook for air transport 2025 Source: IATA Global Outl
Slide 33: Why FLT is Well Placed to Prosper
04 FY26 Outlook Why FLT is Well Placed to Prosper Strong Brand and Market Position FLT’s globally diversified model with trusted brands drives strong demand and record transaction values despite market challenges Corporate Sector Expansion Corporate division growing and expanding into payments, even
Slide 34: Q&A
Q&A FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 34
Slide 35: Contact details
Contact details Haydn Long Investor & Media Relations haydn_long@flightcentre.com +61 418 750 454 FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 35
Slide 36: Supplementary information
05 Supplementary information FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 36
Slide 37: Global HQ breakdown
05 Supplementary information Global HQ breakdown Underlying PBT PBT generated from operating $m HY26 HY25 (restated) businesses in line with prior HQ (50.9) (39.0) year Operating Businesses (6.2) (6.1) Increase in HQ losses primarily AVMIN 0.8 1.0 due to reduced interest income DMC (0.4) 1.5 YoY as
Slide 38: Our Leisure Brands
Our Leisure Brands WHERE WE PLAY FOUR LEISURE CATEGORIES, OPERATING WITH A LEANER COST BASE & SCALABLE OFFERINGS FlyMarket Mass + Luxury Specialist Independents Omni Channel - Fly A thriving global segments Fast growing community The leading network of brand best known for Flights Plus Cruise & Tour
Slide 39: Profit bridge
05 Supplementary information Profit bridge Amortisation of CNs - amortisation will vary depending on the quantum of CNs HY26 HY25* held throughout the year Underlying profit adjustments $'000 $'000 GBS Projects - as noted in the FY25 full year release, these relate primarily to Net Profit Before Tax
Slide 40: 5-year result summary
05 Supplementary information 5-year result summary $m December 2025 December 2024 December 2023 December 2022 December 2021 TTV $12,543 $11,692 $11,327 $9,886 $3,263 Revenue margin 11.2 % 11.4 % 11.4 % 10.1 % 9.7 % EBITDA $189 $178 $219 $77 ($190) EBITDA (underlying) $213 $195 $191 $95 ($184) PBT $8
Slide 41: Segments – Geographic
05 Supplementary information Segments – Geographic ANZ Americas EMEA Asia Other AU $m HY26 HY25 HY26 HY25 HY26 HY25 HY26 HY25 HY26 HY25 TTV 7,101 6,440 2,352 2,315 2,243 2,057 697 709 150 170 Revenue 750 697 244 243 240 220 51 52 124 116 Underlying PBT 135 120 33 28 27 38 5 (4) (75) (63) Underlying
Slide 42: Leisure and Corporate TTV by geographic segment
05 Supplementary information Leisure and Corporate TTV by geographic segment Corporate Leisure 11% 5% 0% 9% 32% 27% 31% 86% Americas Australia & NZ EMEA Asia Australia & NZ EMEA Americas Asia FLIGHT CENTRE TRAVEL GROUP FLIGHT CENTRE TRAVEL GROUP 2026 HALF-YEAR RESULTS 42
Slide 43: P&L
05 Supplementary information P&L $m 31/12/2025 31/12/2024 Mvmt TTV - solid YoY growth across brands in both Group TTV 12,543 11,692 851 Corporate and Leisure, particularly Scott Dunn, Ignite, Corporate Traveller and Travel Money Operating revenue 1,408 1,328 80 Total revenue 1,408 1,328 80 Interest
Slide 44: Balance sheet
05 Supplementary information Balance sheet $'m December 2025 June 2025 Mvmt Cash & cash equivalents 734 816 (82) Financial assets — 0 0 Trade & other receivables 1,131 910 221 Contract assets 327 296 31 Other current assets 188 151 38 Current assets 2,381 2,172 209 PPE 78 71 7 Intangibles 1,314 1,09
Slide 45: Cash flow
05 Supplementary information Cash flow $'m December 2025 December 2024 Mvmt Operating activities Operating activities before interest and tax (27) (138) 111 Net interest and tax refunded (34) (28) (6) Cash inflow from operating activities (61) (166) 105 Investing activities Acquisitions (166) (2) (1
Slide 46: Glossary
05 Supplementary information Glossary ABV EMEA Profit margin Average booking value Europe, Middle East & Africa PBT as a percentage of TTV Avg FCB Revenue margin Average Flight Centre brand Revenue as a percentage of TTV BDM FTE RFP Business development manager Full-time employee Request for proposa
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